"PayPie is creating the first decentralized accounting platform for businesses that will provide real time insight into financial data to achieve 100% accuracy for a credit risk algorithm that can be used globally. This analysis will be conducted using a single ledger approach and will consider businesses’ all-time historical financial data to safeguard and transform the way credit risk is assessed by lenders, investors, banks and other financial institutions while building a blockchain backed accounting ecosystem. PayPie is the first fintech to develop credit risk profile of a business based on an in-built algorithm to constantly adjust it on the Ethereum blockchain depending upon the changes in more than 150 data points. This paper gives an overview on how PayPie will enable live financial audits, ends duplicate tasks, speed up credit approvals and improve the overall credit scoring process by disrupting business accounting landscape."
What we don't like:
PayPie wants to integrate into many platforms including accounting giant, quickbooks. There is nothing stopping other companies from creating their own blockchain to mimic PayPie. PayPie says their implantation will lower financial fraud, however, with IOT implantation, businesses can still lie about what they enter into their PayPie software.
What we like:
PayPie integrates single ledger technology into an already existing accounting software such as Slickpie. The PayPie platform changes the way businesses are audited, moving all their transactions, onto the blockchain. PayPie compiles real-time credit scores on businesses using their software allowing for easier loan access. PayPie is incorporating one-click invoice financing. This makes receiving funds easier for the business, while simultaneously lowering the risk for the lender because the companies financial records are available. The PayPie team comes from an existing accounting software, Slickpie. They have the experience to know where improvements in the software are needed. They will integrate PayPie into Slickpie, giving themselves an immediate audience. PayPie has the potential to be a massive success if enough businesses implement their program.